How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask RJM Law Your Own Question
RJM Law, Lawyer
Category: US Law
Satisfied Customers: 3756
Experience:  LL.B (Hons)
Type Your US Law Question Here...
RJM Law is online now

I'm using a online trading advisor to set up my Kraken

Customer Question

Good morning..I'm using a online trading advisor to set up my Kraken account to buy Cryptocurrency I will be transferring $85,000 into the account for the financial advisor to use for trading.. Can the financial advisor steal my money.?
JA: Have you talked to a lawyer about this? In which country do you live? If different, which country is your legal question related to?
Customer: I have not spoken to any lawyer about it..The Financial advisor online is based in the USA.
JA: What steps have you taken so far?
Customer: I have used Any desk to set up the account, and preparing to transfer the funds into the account but I am feeling scared because I cannot afford to lose $85,000
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: I have checked out the company and the financial advisor licenses on FINRA brokers check..which is valid..but this is my first time trading with these people's I don't know and I am scared.. Do I need some sort of protection in place.?
Submitted: 9 days ago.
Category: US Law
Customer: replied 9 days ago.
Hello..I have been waiting for aanswers to questions I have paid for over 2hours ago,but I have not got a reply until now..Please can you reply
Customer: replied 9 days ago.
I received this message over 2hours ago..Do I have to wait all day for an answer.? Please I need to resolve this issue ASAP..
Expert:  Virtual-mod replied 9 days ago.

I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.

I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.

Thank you!
Customer: replied 9 days ago.
OK thank.. I will wait
Expert:  RJM Law replied 8 days ago.

Hello, and thank you for choosing our service today.   I am the expert who shall assist you with this matter today.

Please note that our service is conducted through emails and from time to time there may be a delay between answers and responses, this is due to the expert availability at the time.  If you do not receive a response immediately, please be advised you will receive one by the end of the day

I will be able to provide you with guidance in relation to your question.  However please note this does not form a professional client relationship and we cannot provide representation, however, I would be hopeful that my guidance will be able to assist you.

Thank you

Expert:  RJM Law replied 8 days ago.

Thank you for the question.  These types of companies should be regulated so the short answer is no,  they will of course take a fee for their work, but so long. as they are a legitimate company they have rules, laws and governing bodies they require to report to therefore they would not be able to steal your money.  If for any reason this happened there would be legal recourse for you.  You will want to do some due diligence on the company prior to investing your money.

I shall provide you with a helpful link that will assist you in finding a solicitor/representative near your local area.  This will provide you with someone nearby your area who can assist you if required.

I hope this information proved helpful.  You will find a local solicitor who deals with these matters on the law society webpage which is as follows; (England) (Scotland) (Ireland) (N. Ireland)

Hopefully, I have answered your query in a way that is simple and easy to understand. If anything remains unclear, I will be more than happy to clarify it for you. In the meantime, thank you once again for using our services.

Should you require any further assistance on this matter, please do not hesitate to post a further questions for additional assistance.

Kindest Regards.